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These latest findings, published this week in a letter to the New England Journal of Medicine (NEJM), suggest that several life and disability insurers, both in the U.S. and abroad, have yet to acquiesce to calls from the American Medical Association and others to divest their holdings in companies such as Reynolds American, Lorillard and Philip Morris. Many insurers cited in the letter say the study wildly overstates their investments, but the authors disagree. "Insurers continue to put their profits above people's health," said Dr. J. Wesley Boyd, the lead author of the report. "It's clear their...
...Prudential spokesperson acknowledged that this figure is "reasonably accurate." But other insurers named in the study strongly dispute its claims. The NEJM letter states that, for instance, Canadian firm Sun Life Financial, which offers life, health and disability insurance, holds just over $1 billion in tobacco investments. In an e-mail to TIME, however, Sun Life spokesman Michel Leduc called this number "categorically incorrect." Although he would not disclose specific holdings, Leduc said that of the company's $100 billion investment portfolio, less than 0.005% was exposure to tobacco stocks. "Sun Life's investments in renewable-energy projects are over...
...been replaced by a more measured, fiscally somber planning process. ‘BLUE SKY’Since his earliest days in office, Summers was openly ambitious about his plans to transform Allston, a vision he hoped to make the hallmark of his tenure. As evidenced in his annual letters to the community, his primary motivation to invest in Allston was to ensure the continued strength of the sciences at Harvard, which he said would soon suffer from a crippling insufficiency of space. Alyssa A. Goodman, an astronomy professor who served on the Provost’s Advisory Group...
...brief members of the FAS community about looming financial challenges, Council members requested an answer to a prevalent student concern: which students would be allowed to stay on campus during the three-week period in January? Ten days later, Dean of the College Evelynn M. Hammonds sent a letter to the community announcing a student-faculty committee that would work to nail down J-Term logistics. The UC was able to choose two students—William R. Rose ’11 and Morgan L. Paull ’12—to serve in the group. On budgetary...
...Dean Evelynn M. Hammonds of Harvard College. None of them bargained for this crisis when they came on board. Neither did President Drew G. Faust. “Harvard is not invulnerable to the seismic financial shocks in the larger world,” she told us in a letter this fall. “Our own economic landscape has been significantly altered.” We would all need to navigate between these seemingly incompatible goals: the need “to advance our priorities for teaching, research, and service” and the need...